SVB Financial Group (NASDAQ:SIVB) Sees Large Increase in Short Interest

SVB Financial Group (NASDAQ:SIVB) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,300,000 shares, a growth of 12.1% from the August 30th total of 1,160,000 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 531,400 shares, the short-interest ratio is currently 2.4 days.

Shares of NASDAQ SIVB traded up $7.33 during midday trading on Tuesday, hitting $206.77. The company’s stock had a trading volume of 381,279 shares, compared to its average volume of 512,704. SVB Financial Group has a 1-year low of $177.70 and a 1-year high of $298.42. The firm’s fifty day moving average price is $203.85 and its 200-day moving average price is $218.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $10.42 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.19 and a beta of 2.16.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $6.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.98 by $1.10. SVB Financial Group had a net margin of 35.83% and a return on equity of 21.44%. The business had revenue of $863.15 million during the quarter, compared to analyst estimates of $787.38 million. During the same period in the previous year, the business posted $4.42 EPS. As a group, research analysts predict that SVB Financial Group will post 21.19 earnings per share for the current fiscal year.

In other news, insider Philip C. Cox sold 848 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $225.00, for a total value of $190,800.00. Following the completion of the sale, the insider now owns 8,264 shares of the company’s stock, valued at approximately $1,859,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Philip C. Cox sold 350 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $230.80, for a total transaction of $80,780.00. Following the completion of the sale, the chief operating officer now directly owns 7,909 shares of the company’s stock, valued at approximately $1,825,397.20. The disclosure for this sale can be found here. Insiders sold a total of 6,198 shares of company stock valued at $1,335,030 in the last three months. Insiders own 0.73% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SIVB. Patriot Financial Group Insurance Agency LLC boosted its stake in SVB Financial Group by 3,733.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 115 shares of the bank’s stock valued at $25,000 after purchasing an additional 112 shares during the period. Griffin Asset Management Inc. acquired a new position in SVB Financial Group during the 2nd quarter valued at about $28,000. Pearl River Capital LLC acquired a new position in SVB Financial Group during the 2nd quarter valued at about $30,000. NEXT Financial Group Inc acquired a new position in SVB Financial Group during the 2nd quarter valued at about $33,000. Finally, CSat Investment Advisory L.P. boosted its stake in SVB Financial Group by 171.1% during the 2nd quarter. CSat Investment Advisory L.P. now owns 263 shares of the bank’s stock valued at $59,000 after purchasing an additional 166 shares during the period. 91.24% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on SIVB shares. BidaskClub raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Stephens reissued a “buy” rating and issued a $250.00 target price on shares of SVB Financial Group in a research report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their target price on shares of SVB Financial Group from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada set a $280.00 target price on shares of SVB Financial Group and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, ValuEngine raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. SVB Financial Group presently has a consensus rating of “Buy” and an average target price of $268.27.

About SVB Financial Group

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.

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